The industrial power supply market is anticipated to grow from an estimated USD 10.8 billion in 2022 to USD 14.5 billion in 2027, at a CAGR of 6.0% during the forecast period. The industrial power supply solutions are used in a variety of applications, such as robotics, semiconductor, transportation, as well as in spacecraft power systems, equipment powered by batteries, automotive spare parts, and other electronic devices. The rising adoption of power supply for various end user applications are expected to offer lucrative opportunities for the industrial power supply market during the forecast period.

AC – DC Converter: The largest segment of the industrial power supply market, by type
Based on product type, the industrial power supply market has been split into AC–DC converters and DC–DC converters. AC–DC converters were estimated to account for a larger share of the industrial power supply market in 2021. The rising global military expenditure, and the increasing adoption of electric and hybrid vehicles are prime factors for the higher demand for AC–DC converters.

Medical & Healthcare segment is expected to emerge as the largest segment based on vertical
The industrial power supply market has been segmented into the transportation, military & aerospace, lighting, test & measurement, semiconductor, battery charging & test, robotics, industrial 3D printing, laser, lighting, telecommunication, consumer electronics, automotive, energy, food & beverage, and medical & healthcare based on verticals. The medical & healthcare is expected to hold the largest market share owing to the living standards of people around the globe are increasing, the demand for affordable and quality healthcare is rising, which will, in turn, increase the demand for industrial power supply solutions.

North America is expected to be the second largest market during the forecast period.
North America is expected to be the second-fastest growing market due to the increasing investments in the automotive projects and development of food and beverage industries. The food & beverages sector in the region is amongst the largest in the world. The huge agricultural sector and the ever-growing demand for processed foods from consumers are driving the food & beverages industry in this region.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.

The distribution of primary interviews is as follows:

  • By Company Type: Tier 1- 65%, Tier 2- 24%and Tier 3- 11%
  • By Designation: C-Level- 30%, Managers- 25%, and Others- 45%
  • By Region: North America- 27%, Europe- 20%, Asia Pacific- 33%, the Middle East & Africa- 8%, and South America- 12%

Note: Others includes product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The industrial power supply market is dominated by a few major players that have a wide regional presence. The leading players in the industrial power supply market are TDK Lambda (Japan), Siemens (Germany), Delta Electronics (Taiwan), ABB (Switzerland), and Murata Power Solutions (US).

Research Coverage:
The report defines, describes, and forecasts the global industrial power supply market, by product type, output power, vertical, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the industrial power supply market.

Key Benefits of Buying the Report

  • The report identifies and addresses the key markets for industrial power supply, which would help equipment manufacturers review the growth in demand.
  • The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
  • The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.